Sensex flat, broader markets subdued amid gloomy Asian clues

Mumbai, Feb 23 (IANS) A benchmark index for Indian equities markets Wednesday was ruling quiet in noon trade after shedding the modest gains of morning session. Broader markets too were dull amid weak cues from major Asian bourses.The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,233.77 points, was ruling at 18,279.49 points, down 16.67 points or 0.09 percent from its previous close at 18,296.16 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was trading flat at 5,465.45 points.

Broader markets were trading lacklustre, though smaller value scrips saw some buys. The BSE midcap index was down 0.15 percent and the BSE small cap index trading 0.22 percent higher.

IT, consumer durables, and telecom stocks were in the red, while energy and auto scrips saw some buys.

The market breadth was positive, with 1,307 stocks advancing compared to 1,275 scrips on the decline. A total of 115 stocks remained unchanged.

Among gainers on the 30-scrip Sensex were Reliance Infra, HDFC, Sterlite Industries and Hero Honda, while the losers included SBI, Infosys, Tata Power and DLF.

Asian markets, tracking the overnight weakness at Wall street and weighed down by the soaring prices of crude due to turmoil in the Middle East were ruling lower.

Hong Kong’s Hang Seng was ruling 0.43 percent down at 22,891.28 points, while the Japanese Nikkei fell 0.8 percent to close at 10,579.1 points.

Chinese markets too was in a slump, with a benchmark index, the Shanghai Composite index, ruling a meagre 0.18 percent up at 2,860.78 points.

A bloody revolt against Libyan leader Muammar Gaddafi has reduced crude output in the country — Africa’s third largest oil producer by about one-third.

The result has been oil prices shooting up to a two and a half years’ high in some markets like the US, which is among the largest energy consumers.